In February 2018, the Bank of England issued a consultation paper on a proposed new rule relating to incident reporting for UK central counterparties (CCPs). The proposed new rule formalizes the requirement for CCPs to notify the BoE of certain incidents having an impact on their information technology systems. Following the consultation and consideration of responses received, BoE has decided to proceed with the rule as proposed. The rule is effective and binding on CCPs from 7 May 2018.